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Banks, auto dealers team up to promote loan availability (Rochester Democrat and Chronicle)
Both dealers and bankers acknowledged they are concerned by a sharp fall-off in business coinciding with a slowdown of the U.S. economy.
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Automakers' demise would affect Salina, area (Salina Journal)
ElDorado National president Sheldon Walle is keeping a watchful eye on news about the possible failure of one or more of Detroit's Big Three automakers as he monitors the inventory of commercial bus and van chassis his company -- and its 300 employees in Salina -- depend upon.
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Ford CEO Alan Mulally's testimony (Detroit Free Press)
Thank you Mr. Chairman, Senator Shelby and members of the Committee. I appreciate the opportunity to be here with you today representing Ford Motor Company as you consider issues that are absolutely critical to this venerable American company and to the nation. In my judgment, there are two fundamental questions on the table today: • Is there a competitive and sustainable future for our domestic ...
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Downey, Community National Face Wrath of Regulators (Update1) (Bloomberg)
Nov. 13 (Bloomberg) -- Downey Financial Corp. was told by U.S. regulators to raise capital by year-end or face seizure. GMAC Bank can't install an ATM on property controlled by its biggest owner without getting federal permission. Community National Bank was forced to fire its two top executives.
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The job-eating economy (rediff.com)
Recent unemployment numbers shocked economists and sent the markets falling. Don't expect positive news for a long time.
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Reid, Pelosi Urge Treasury to Extend Aid to Automakers (Washington Post)
With the nation's automotive industry hemorrhaging cash, congressional leaders called on the Bush administration yesterday to offer government assistance to the car companies as part of the Treasury Department's $700 billion emergency rescue program.
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Top Scoops (Scoop.co.nz)
Patricia Cohen, NY Times - Three sets of researchers recently concluded that professors have virtually no impact on the political views and ideology of their students. If there has been a conspiracy among liberal faculty members to influence students, ...
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Losses force GM to slash 3,600 jobs in Canada, U.S. (CTV British Columbia)
General Motors Corp. will trim about 3,600 North American staff, including 500 in Canada, as the auto giant grapples with a major third-quarter loss, which it released Friday.
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Losses force GM to slash 3,600 jobs in Canada, U.S. (CTV Toronto)
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Ford loses $129-million in Q3, burns through $7.7B (CTV.ca)
Ford Motor Co. announced stunning third quarter results on Friday, saying it lost $129 million and spent $7.7 billion in cash as the North American auto sector continues to struggle.
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